facebook-credits

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The world biggest social media platform, Facebook, will as of July 1, 201, make Facebook Credit mandatory for all onside gaming.

Beginning July 1st, all social game developers on the Facebook platform will be required to process payments through Facebook Credits. Currently, Facebook Credits is accepted as payment in around 350 apps from 150 developers, including 22 of the top 25 Facebook games. Credits is used for more than 70% of all virtual goods bought and sold on Facebook.

Facebook rep Deborah Liu said in a blog, “We’re excited to give Facebook users the confidence that when they purchase Facebook Credits or receive them as a gift, they can spend them in any game on Facebook.”

Facebook is working with developers to ensure that every Facebook social game will use Credits by July 1st. The company will help developers improve their revenues and to tweak the product to give users the best possible experience.

Facebook’s decision is fantastic for the company’s bottom line; the social network company takes a 30% cut of all Facebook Credits revenues. In other words, if you pay $2.00 for a talking horse on FarmVille, Facebook collects $0.60 from the Zynga. Already, Credits has made promising contributions to the company’s ever-rising revenue estimates (currently at $2 billion annual for 2010.

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